Grain Traders Go on Data Hunt
After USDA acreage debate, ag analysts seek out technology to analyze conditions
In June, the USDA acreage report’s projections far exceeded industry supply estimates, causing panic in the grain market.
According to Reuters, traders and analysts said the data failed to reflect the effect of massive floods and heavy rains on planting, prompting farmers and agricultural analysts to seek out technology companies that use sourced data like drone videos and satellite imagery to analyze conditions.
Sentera, a Minneapolis-based data company, said the total volume of farm-field drone data processed so far this year has risen more than 12 times over the year-ago period, and volume is up more than 30 times in areas hard hit by floods and heavy rain.
Read the full report at Reuters.